8905 S Western Avenue, Los Angeles CA, 90047
(Active)
$780,000
|
4,390 sqft
|
MLS# SB23195550
Last Updated: 5/9/2024 7:54 AM
Description for
8905 S Western Avenue
Los Angeles, CA 90047
Amazing opportunity for an owner user, investor or developer to acquire a mixed use property in South Los Angeles with three retail units and a one bedroom residential unit upstairs, all on month-to-month terms with separate gas and electric meters. The property has a gated lot with secure on-site parking & roll up doors, high ceilings, and fifty feet of frontage on Western Avenue with over 30,000 vehicle daily traffic, presenting a perfect opportunity for an owner-user or investor. Rents are currently 50% below market, presenting significant upside. Alternatively, the Tier 2 TOC designation also presents an opportunity for a developer to take advantage of density bonuses to repurpose the C2 lot as affordable housing. Less than 2 miles to SoFi Stadium and the Kia Forum, and 6 miles from LAX, this centrally located asset provides consumers and tenants with easy access to the remainder of Southern California via nearby 110, 105 and 10 freeways.
Price
$780,000
Los Angeles
4,390 (approx)
SB23195550
Active
Description
Amazing opportunity for an owner user, investor or developer to acquire a mixed use property in South Los Angeles with three retail units and a one bedroom residential unit upstairs, all on month-to-month terms with separate gas and electric meters. The property has a gated lot with secure on-site parking & roll up doors, high ceilings, and fifty feet of frontage on Western Avenue with over 30,000 vehicle daily traffic, presenting a perfect opportunity for an owner-user or investor. Rents are currently 50% below market, presenting significant upside. Alternatively, the Tier 2 TOC designation also presents an opportunity for a developer to take advantage of density bonuses to repurpose the C2 lot as affordable housing. Less than 2 miles to SoFi Stadium and the Kia Forum, and 6 miles from LAX, this centrally located asset provides consumers and tenants with easy access to the remainder of Southern California via nearby 110, 105 and 10 freeways.
Listing Information
| Property Type: Retail, Business Opportunities, 2 Story | ||
| 0.13 Acres | Assessor | 4,390 (approx) |
| 1948 | 2 | |
Public
1 Total
Neighborhood
Room Information
None
Exterior / Lot Features
0 Covered Parking Spaces,
C2 TOC-3
0-1 Unit/Acre
Driving Directions
90th to Western
Financial Considerations
| 6036017002 |
Listing Price History
Los Angeles Real Estate
Los Angeles is located in California. Los Angeles, California 90047 has a population of 3,956,168.
The median household income in Los Angeles, California 90047 is $54,570. The median household income for the surrounding county is $73,262 compared to the national median of $66,222. The median age of people living in Los Angeles 90047 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 2/18/2024 | Active | $780,000 USD -10.86% |
|
| 10/19/2023 | Active | $875,000 USD |
|